Azarus Raises Funds for Competitive Gaming Platform Enhancements
Blockchain technology is a common news topic these days. Stories are directly related to the crypto industry or for process improvements in other business sectors. However, it would be safe to venture that only a handful of the general population really understands what blockchain is.
An easy concept to grasp is that blockchain is a new approach to solving old problems. It could be thought of as a better way to do things in an ever-changing world. One company turning to blockchain for process improvement is Azarus.
This groundbreaking new game challenge network has raised $1.8 million for this blockchain initiative. The goal is to build out its blockchain-based “Smart Challenge” gaming platform. This gives gamers the ability to compete for digital assets through casual play and competitive challenges. The money raised came from Galaxy Digital, Kleiner Perkins and SVK Crypto as the three biggest investors. Other related companies are also on the list.
The original gaming platform was launched late last year. The “Smart Challenge” platform is designed to motivate play with the use of in-game applications as part of programing interface data (API). Information is also pulled from Twitch extensions as a means to measure performance playing online games. Rewards are payed out to winning players as well as their fans.
Bing Gordon is a partner at Kleiner Perkins and a big part of the fund raising effort. He was recently interviewed by GameBeat in reference to this new initiative. One of the biggest goals is increased retention and player engagement. Both are critical in the ongoing success of online games. The Azarus challenge and reward platform works to increase a player’s stake in the game itself.
Through the “Smart Challenge” platform, players have the ability to create their own rules and challenges. This takes place on the EOSIO blockchain to create transparency while ensuring fairness. Blockchain in this explanation was described as:
“A transparent and secure decentralized ledger that powers innovations such as cryptocurrency or supply chain security.”
Gordan’s comments on this new direction were quoted as follows:
“I like blockchain and competition and I like the brand approach as well. I knew (Azarus cofounder) Erik Whiteford when he was at EA Sports and Madden. He hosted the Madden tournament at the Super Bowl for multiple years. I trust his nose for bringing competition to gamers. He has been doing high-level head-to-head esports since the 1990’s.”
Both players and viewers can earn AZA credits. There are company enabled amateur and professional esports streams. The credits are tied to answering historical or predictive questions based on these broadcasts. AZA credits hold value in the Azarus Marketplace. They can be redeemed for rare in-game items, in-game currencies and digital assets.
Sam Englebardt in the co-founder of Galaxy Digital. Acting as the co-head of principal investments, he released the following statement ,“We have tremendous confidence in the team’s vision and ability to execute” in terms of the anticipated return on that sizable investment.